Prestar: Mulls ACE Market listing for steel product unit Tashin Steel. Prestar Resources announced that it is considering the listing of its 51%-owned subsidiary Tashin Steel SB, which owns a steel products manufacturing plant in Penang, on the ACE Market of Bursa Malaysia. Once Tashin Steel has finalised its corporate structure, Rawang-based Prestar said it will announce further listing details in due course. (The Edge)
from 'henghuat888' 's comment,he is just like many punters who have no money to hold a counter for longer time,and when shares drop,cut loss...this is one of the factors that pull down share prices...even shares with good fundamental
Spin off creates uncertainty for both the parent and the new spin off companies. Need to hold long term to see it's benefit. Most likely investors are not willing to wait.
Posted by paperplane2016' if you want good return in long run, you must have patient. don't invest and expect next day it up100%. Mentality wrong, you wont get return
ME: VERY TRUE INDEED . FOR THIS COUNTER IS A 'BUYYYYYY ON WEAKNESS' :)
If spinoff successful.. mostly likely a huge sum of cash will come in to Prestar... which can subsequently reduce borrowings and use as working capital or even giveout dividend....
borrowing still not that high compared other players in steel. but it has stated it will sell Vietnam and reduce borrowing mah. to me a good sign to buy more loh. Next quarter Aug, lets see
paperlane2016, 1.80 its the second resistance price based on symetrical triangle trend. AT the moment, it was oversold and hence it will come back at a slower pace, therefore temporary looking at the trend price at 1.35 for the rebound
actually yes..based on the belt & road initiatives, china's overseas direct investments increased and the direction for the first staion to be stationed in ASEAN. As long as the related industry like raw materials especially steel (instead of cements because cements usually used in properties sector for the buldings but it is oversupply in malaysia market), so it would help in the company's earnings.
Additional is the quarter's earnings is improving, could see a momentum continue. Short term rebound is possible, but even though hold for longer term (let say 2 years) play, it is still possible due to the chart indicated a stable growth.
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HamzahB
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Posted by HamzahB > 2017-07-13 09:44 | Report Abuse
What does the shareholders get with the spinoff?
Payment from the funds raised from the it or shares in the new company?